When I last spoke with value investor Whitney George, he had just joined Sprott Asset Management. Whitney is looking for great businesses capable of generating a lot of cash but that are going through a slump.
Temporary setbacks can cause shares in good companies to become cheap as investors exit the story. Of course, you need to figure out which companies are genuinely good businesses that are likely to recover. That’s why Whitney spends a lot of time looking at the talent behind the company, and trying to ensure that they’re aligned with his interests.
What brought a value investor with no specific interest in natural resources and precious metals to Sprott’s door? He was looking to move his fund to a new company, he explained. Sprott “checked all the boxes,” in his view.
We talked about applying value investing today, and how he ended up finding a new home at Sprott.
Henry Bonner: What got you interested in Sprott as an investor, and why did you decide to come over and join the company?
Have you prepared a short list of stocks that you want to acquire when the time comes?
Our list totals about 35 stocks at the moment which we hope to get down to a dozen or so.
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